NetSpend 2012 Annual Report Download - page 56

NOTE 17 Treasury Stock
The following table summarizes shares held as treasury stock and their related carrying value:
At December 31,
(in thousands)
Number of
Treasury
Shares Treasury Shares Cost
2012 ..................................................................... 15,440 $287,301
2011 ..................................................................... 12,829 225,034
2010 ..................................................................... 6,798 115,449
Stock Repurchase Plan
On April 20, 2010, TSYS announced a stock repurchase plan to purchase up to 10 million shares of TSYS stock.
The shares may be purchased from time to time over the next two years at prices considered attractive to the
Company. On May 3, 2011, TSYS announced that its Board had approved an increase in the number of shares
that may be repurchased under its current share repurchase plan from up to 10 million shares to up to 15 million
shares of TSYS stock. On July 24, 2012, TSYS announced that its Board had approved an increase in the number
of shares that may be repurchased under its current share repurchase plan from up to 15 million shares to up to
20 million shares of TSYS stock. The expiration date of the plan was also extended to April 30, 2014. During
2012, the Company purchased 3.2 million shares for approximately $74.6 million, at an average price of $23.31.
During 2011, the Company purchased 6.6 million shares for approximately $120.6 million, at an average price of
$18.28.
The following table sets forth information regarding the Company’s purchases of its common stock on a monthly
basis during the three months ended December 31, 2012:
(in thousands, except per share data)
Total Number
of Shares
Purchased Average Price Paid per Share
Total Number of
Cumulative Shares Purchased
as Part of Publicly
Announced Plans or
Programs
Maximum
Number of
Shares That
May Yet Be
Purchased
Under the Plans
or Programs
October 2012 ................ 200 $22.56 12,493 7,507
November 2012 .............. 400 22.18 12,893 7,107
December 2012 ............... — — 12,893 7,107
Total ................... 600 $22.31
Treasury Shares
In 2008, the Compensation Committee approved “share withholding for taxes” for all employee nonvested
awards, and also for employee stock options under specified circumstances. The dollar amount of the income tax
liability from each exercise is converted into TSYS shares and withheld at the statutory minimum. The shares are
added to the treasury account and TSYS remits funds to the Internal Revenue Service to settle the tax liability.
During 2012 and 2011, the Company acquired 31,000 shares for approximately $671,000 and 37,000 shares for
approximately $636,000, respectively, as a result of share withholding for taxes.
NOTE 18 Other Comprehensive Income (Loss)
In June 1997, the FASB issued authoritative guidance under ASC 220, which established certain standards for
reporting and presenting comprehensive income in the general-purpose financial statements. The purpose of
ASC 220 was to report all items that met the definition of “comprehensive income” in a prominent financial
statement for the same period in which they were recognized. Comprehensive income includes all changes in
owners’ equity that resulted from transactions of the business entity with non-owners.
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